LanKa Company Profile of Sinopec Energy Lanka

Company Profile of Sinopec Energy Lanka

In May 2023, Sinopec entered the 'Long Term Contract for Importation, Storage, Distribution and Sale of Petroleum Products in Sri Lanka' with Ministry of Power and Energy (MOPE) in Sri Lanka.

As per the contract, MOPE shall deliver the license to import, store, supply, distribute, and sell Petroleum Products to Identified Fuel Stations to the new incorporated entity of Sinopec in Sri Lanka. Thus, Sinopec Energy Lanka (Private) Limited (SEL), which was registered on June 2023, and entered into an agreement with Board of Investment (BOI) on July.

SEL will be engaging in Infrastructure development business related to petroleum by, inter alia, setting up, conducting and/or operating 150 franchise fuel stations and 50 new fuel stations; to import, store and distribute petroleum products including petrol, diesel, jet A-1, kerosene and furnace oil and related value added products of the said five; to provide value added services such as automatic car wash and car service facilities, convenience stores; to expand to new energy services such as Photovoltaic, electric charging stations, battery swapping and other related services in the local market.

SEL is committed to ensuring a stable supply of petroleum products to the Sri Lankan market. Furthermore, SEL will engage in multi-dimensional, multi-level, and in-depth cooperation to drive sustainable growth and development in the country.

Company Profile of Sinopec Energy Lanka In May 2023, Sinopec entered the 'Long Term Contract for Importation, Storage, Distribution and Sale of Petroleum Products in Sri Lanka' with Ministry of Power and Energy (MOPE) in Sri Lanka. As per the contract, MOPE shall deliver the license to import, store, supply, distribute, and sell Petroleum Products to Identified Fuel Stations to the new incorporated entity of Sinopec in Sri Lanka. Thus, Sinopec Energy Lanka (Private) Limited (SEL), which was registered on June 2023, and entered into an agreement with Board of Investment (BOI) on July. SEL will be engaging in Infrastructure development business related to petroleum by, inter alia, setting up, conducting and/or operating 150 franchise fuel stations and 50 new fuel stations; to import, store and distribute petroleum products including petrol, diesel, jet A-1, kerosene and furnace oil and related value added products of the said five; to provide value added services such as automatic car wash and car service facilities, convenience stores; to expand to new energy services such as Photovoltaic, electric charging stations, battery swapping and other related services in the local market. SEL is committed to ensuring a stable supply of petroleum products to the Sri Lankan market. Furthermore, SEL will engage in multi-dimensional, multi-level, and in-depth cooperation to drive sustainable growth and development in the country.